There's obviously a reason we buy a watch with "Rolex" or "Panerai" on the dial. For some it is to "fool" others or give off a certain status, and I think deep down there's probably at least a little of that in all of us, if not we'd just buy Invictas.
This is a fundamental questions I haven't figured the answer out to yet. Why do I care that the watch says Rolex on the dial? The best I can come up with so far is that these reps are like lithographs to me. I can't afford a real Picasso but I could afford a print to enjoy. It's the same so far with reps.
In the end it's about jewelery not time keeping. If it was about time keeping, I'd just use my iPhone or computer to tell the time. That then leads me to, if piece of jewelery A is 99.5% identical to piece of jewelery B (the gen), then what is the point of spending your money on B? I guess I'm making the anti-Fraken case here. Still, in the end it's about jewelery and bling and wrist decoration and all that goes with that. Nothing more. So, whatever floats your boat!